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Ratings

S&P has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA'
29 March 12:03 PM S&P affirms Abu Dhabi's credit rating; stable outlook
Abu Dhabi – Mubasher: S&P Global Rating has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA' and the short-term foreign and domestic currency rating at  'A-1+', with a stable outlook. S&P Global Rating expected that Abu Dhabi's …
Standard and Poor's (S&P)
27 March 03:13 PM S&P lowers Kuwait rating to AA-, outlook stable
Mubasher: Standard and Poor's (S&P) has lowered Kuwait's long-term foreign and local-currency sovereign credit ratings to (AA-) from (AA), Kuwait News Agency (KUNA) reported "The oil price drop is happening alongside Kuwait's slow reform momentum, …
Moody's assigned a 'Negative' outlook to EQUATE's new GMTN programme
23 March 02:51 PM Moody's assigns Baa2 rating to EQUATE's GMTN programme
Mubasher: Moody's Investors Service has assigned a (P) Baa2 rating to EQUATE Petrochemical Company’s new GMTN programme that is established under MEGlobal Canada ULC, with a ‘Negative’ outlook. The rating and outlook mirror the previously …
Bank's asset quality is strong but affected by borrower concentration risk
19 March 02:50 PM Moody’s affirms Banque Saudi Fransi rating, outlook negative
Riyadh – Mubasher: Moody's Investors Service has affirmed the A1 long-term deposit ratings and P-1 short-term deposit ratings of Banque Saudi Fransi (BSF), and changed the outlook on the bank's long-term deposit ratings to negative from stable. At …
The rating reflects NBK’s ability to maintain robust performance
9 March 09:47 AM Moody’s places ‘Aa3’ rating for NBK’s long-term IDR
Mubasher: Moody’s Investors Service has assigned a rating of ‘Aa3’ for the long-term issuer default rating (IDR) of the National Bank of Kuwait (NBK), with a ‘Stable’ outlook. The rating reflects the bank’s ability to maintain robust performance …
The rating outlook was maintained at ‘Negative'
8 March 10:47 AM S&P maintains KIPCO’s ratings, outlook
Mubasher: Standard and Poor's (S&P) has maintained Kuwait Projects Holding’s (KIPCO) long-term issue credit rating at ‘BBB-’ and the short-term issue credit rating at ‘A-3’.  The company's outlook was also maintained at ‘Negative', according to a …
The Central Bank of the UAE (CBUAE)
5 March 10:01 AM Central bank guidelines support UAE economy amid coronavirus – Moody’s
UAE – Mubasher: New guidelines and measures set by the Central Bank of the UAE (CBUAE) amid the global coronavirus outbreak will mitigate its impact and support Emirati economy, Moody's Investors Service said in a recent report, according to …
Kuwait's non-oil growth expected at 3% this year
4 March 12:44 PM Kuwait banking outlook remains stable in 2020 - Moody's
Mubasher: Moody's Investors Service stated that the outlook for the Kuwaiti banking system remains ‘Stable’, bolstered by a robust economic growth, which will support credit conditions for the country's banks. Kuwait's non-oil GDP growth is …
The bond was issued in May 2017
3 March 04:26 PM Fitch assigns BBB- rating to ACWA Power bonds
Riyadh – Mubasher: ACWA Power Investment and Management One Ltd. (APMI One) announced that Fitch Ratings has assigned a BBB- rating to its $814 million 5.95% senior secured bond, with a stable outlook. The bond, issued in May 2017 by ACWA Power’s …
Profitability of the UAE’s four largest banks will be resilient
27 February 12:42 PM UAE largest banks’ profitability to remain resilient in 2020 - Moody's
UAE – Mubasher: The profitability of the UAE’s four largest banks will likely remain resilient in 2020, benefitting from the strong public-sector loan growth, according to a recent report by Moody's Investors Service (Moody's) First Abu Dhabi Bank …
Government debt restructuring is becoming inevitable
22 February 11:04 PM Moody's downgrades Lebanon's credit rating; outlook 'Stable'
Mubasher: Moody's Investors Service has downgraded the Lebanese government’s issuer rating to Ca from Caa2, changing the outlook to stable. The Ca rating reflects the expectation that domestic and external private creditors are likely to suffer …
Sharjah's stable outlook reflects the resilience at the ‘Baa2’ rating
19 February 06:25 PM Moody's downgrades Sharjah’s rating to ‘Baa2’; Outlook ‘Stable’
UAE – Mubasher: Moody's Investors Service has downgraded Sharjah’s long-term foreign and local currency issuer ratings from ‘A3’ to ‘Baa2’, while changing the outlook from ‘Negative’ to ‘Stable’. The downgrade of Sharjah’s rating reflects lower …
DP World and the parent company will raise $9 billion debt
18 February 01:16 PM Moody's reviewing DP World’s ratings for downgrade
Dubai – Mubasher: Moody's Investors Service has assigned on review DP World’s ‘Baa1’ long term issuer and senior unsecured ratings, as well as ‘(P)Baa1’ senior unsecured rating placed to the company’s Crescent Limited MTN programme. This …
The review will include the A3 long-term issuer rating
12 February 11:09 PM Moody's may upgrade TAQA’s credit ratings
Abu Dhabi – Mubasher: Moody's Investors Service on Wednesday announced that it placed Abu Dhabi National Energy Company’s (TAQA) ratings under review for upgrade. This review will include the company's A3 long-term issuer rating and P-2 short-term …
short-term foreign currency rating (ST FCR) were affirmed at 'A1'.
9 February 04:40 PM CI upgrades Burgan Bank’s ratings
Mubasher: Capital Intelligence (CI) raised the long-term foreign currency rating (LT FCR) of Burgan Bank to ‘A+’ from ‘A’, with a 'Stable' outlook, and affirmed the short-term foreign currency rating (ST FCR) at 'A1'.      The agency also upgraded …
The ratings reflect the company's effective risk management
9 February 12:47 PM AM Best affirms Kuwait Insurance’s rating ‘A-’; outlook 'Stable'
Mubasher: The US-based credit rating agency AM Best has affirmed the financial strength rating and long-term issuer credit rating of Kuwait Insurance Company at ‘A-’, with a 'Stable' outlook.    The ratings reflect the insurance company’s robust …
The rating shows the company’s ability to pay interest payments and principal
6 February 06:05 PM National Industries’ KWD 30m bonds assigned ‘BBB-’ rating
Mubasher: The KWD 30 million ($98.9 million) senior unsecured bonds issue of National Industries Group Holding, listed on Boursa Kuwait and Dubai Financial Market (DFM), was assigned a ‘BBB-’ initial rating by Capital Intelligence Ratings (CI …
Riyad Bank
6 February 05:29 PM Moody's assigns A2 rating to Riyad Bank's $3bn Sukuk
Riyadh – Mubasher: Moody's Investors Service has assigned a provisional foreign-currency long-term (P)A2 senior unsecured rating to Riyad Sukuk Limited's backed $3 billion trust certificate issuance programme. The Sukuk issuance was also assigned …
Profitability is underpinned by strong franchises, cheap funding, and limited competition
6 February 04:28 PM Saudi banks show profitability resilience – Fitch
Riyadh – Mubasher: Saudi banks’ profitability has been resilient and remains a strength for the sector, according to a recent report by Fitch Ratings. Profitability is underpinned by strong franchises, cheap funding, and limited competition, …
The rating indicates the company’s strong market position in MENA
30 January 03:37 PM Moody’s assigns ‘A2’ IFS rating to Oman Insurance; outlook ‘Stable’
Dubai – Mubasher: Moody's Investors Service has assigned an ‘A2’ Insurance Financial Strength (IFS) rating to Oman Insurance Company, with a ‘Stable’ outlook. The rating indicates the UAE-based company’s strong market position in MENA, diversified …
An EBE branch
28 January 07:07 PM CI Ratings affirms EBE’s ratings; Outlook stable
Cairo – Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term foreign currency rating of Export Development Bank of Egypt (EBE) at ‘B+’. The rating agency also affirmed the bank’s short-term foreign currency rating at ‘B’, …
Moody's affirmed KFH's, AUB's BCA
24 January 03:27 PM Moody's affirms ratings of KFH, AUB Kuwait
Mubasher: Moody's Investors Service has affirmed credit ratings of two Kuwaiti banks, according to a statement released on Friday. The global rating agency affirmed the A1 / Prime-1 long and short-term domestic and foreign currency deposit ratings …
Banks retain good access to stable, deposit-based funding
23 January 01:37 PM Moody’s sees stable outlook for Egyptian banks on strong growth, liquidity
Cairo – Mubasher: The Egyptian banking system has a stable outlook over the next twelve to 18 months with the help of high liquidity rates and robust economic growth that will help lenders provide more loans, Moody's Investors Service said in a …